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Hi everybody!
First of all, before proceeding reading this article, you need to know this post is the continuation of my last one, about the bVaults’ BUSD Alpaca incident on bEarn Fi (a cross-chain product in Decentralized Finance).
You can read it on the link below:
BUSD (ALPACA) BVAULT INCIDENT ON bEarn FI
I am writing this new article to give un update about the compensation plan proposed by the platform, after the money disappearance.
After only one working day of the “incident”, on the Bvault homepage there was a box with a countdown timer of 10 hours (more or less) to withdraw part of the deposited amount.
bEarn’s BUSD Vault compensation progress: Phase 1 — Returning the remaining balance
Just to be honest, I was expected to see a different value, cause from the calculation of 87,5% of my deposited busd (150) I supposed to have back in the first phase 131,25busd instead of 119.49. Sincerely? Even now I am not sure on how this calculation should be done properly to make the value match.
Anyway, the first time the countdown ended I was not able to withdraw them. Considering I was using my mobile phone, I thought the issue could be related to a bed internet connection or something like this with the METAMASK wallet too. Just failed!
The second time the countdown ended, it was in the middle of the night! Not at all happy to wake up so early to try again, and see that I could not withdraw the money because “the fee fund was not sufficient”. Obviously, it was not the real reason. I after read on the telegram group they needed more time and stopped the process for few hours.
The third time was the good one! I have finally received back this first part of the money and I am now waiting for the phase 2 details, that I sincerely hope won’t be really activated after months and months as mentioned in their article "vesting token in 80 weeks, same as the core team"
Once again...Let’s wait and continue supporting them!
We can all improve and build something better in this way.
Thank you for reading!
